Ellerslie, Maryland Property Taxes
The median property tax rate in Ellerslie, MD is 1.05%, slightly higher than the national median of 0.99% but just below the Maryland state median of 1.06%. With a median home value of $117,000 in Ellerslie, the typical annual property tax bill amounts to $1,197, which is below the national median of $2,690. Property taxes in Ellerslie are determined based on the tax assessed value, often lower than the market value due to various exemptions, including primary residence and agricultural exemptions. Understanding Ellerslie's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Ellerslie or another part of Allegany County, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Ellerslie, Maryland Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.05%
Estimate Property Tax Bill
$1,229
$1,140
Ownwell’s Ellerslie Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Ellerslie with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Ellerslie to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by Allegany County for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Ellerslie, Maryland
Property taxes in Ellerslie, Maryland, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Ellerslie is 1.05%, which is higher than the U.S. national median of 0.99%. Local government entities within Ellerslie set these rates annually, and they can vary significantly across different neighborhoods. Each year, Ellerslie estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Ellerslie's effective property tax rate to other areas in Maryland and the national median. For comparison, the 21529 zip code has the highest median property tax rate of 1.05%, while the same zip code also has the lowest median tax rate of 1.05%. Understanding how these areas compare with Ellerslie provides valuable insights into the varying tax landscape across Allegany County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Ellerslie Tax Rate
1.05%
Average Allegany County Tax Rate
0.93%
Average Maryland Tax Rate
1.06%
Average United States Tax Rate
0.99%
Property Tax Rates Across Ellerslie, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21529 | 0.96% | 1.01% | 1.05% | 1.06% | 1.06% |
Source: Ownwell
Property Tax Assessment Values Across Ellerslie, Maryland
In Ellerslie, Maryland, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Allegany County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Ellerslie, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Ellerslie helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Ellerslie is $117,000, with the highest median tax bill recorded at $1,197 in zip code 21529.
Average Ellerslie Assessed Value
$117,000
Average Allegany County Assessed Value
$102,400
Average Maryland Assessed Value
$317,700
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Ellerslie, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21529 | $55,800 | $73,300 | $117,000 | $173,300 | $249,820 |
Source: Ownwell
Property Tax Bills Across Ellerslie, Maryland
In Ellerslie, located in Allegany County, MD, property tax bills are calculated based on the assessed value of a home. The median home price in the area is $117,000. To determine the tax bill, local authorities multiply the assessed value by the property tax rate. Factors such as property location, home improvements, and market conditions can influence the assessed value. Homeowners in Ellerslie can expect a range of property tax bills. For example, the tax bill at the 25th percentile is around $749, while at the 75th percentile, it rises to approximately $1,735. Those in the 90th percentile may see tax bills as high as $2,593. The highest median tax bill in the county is $1,197, found in the zip code 21529. These property taxes can significantly impact homeowners, influencing their overall housing costs and monthly budgets. By understanding how these taxes are calculated, homeowners can better anticipate their financial obligations and plan accordingly.
Average Ellerslie Tax Bill
$1,197
Average Allegany County Tax Bill
$978
Average Maryland Tax Bill
$3,419
Average United States Tax Bill
$2,690
Property Tax Bills Across Ellerslie, Maryland
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 21529 | $584 | $749 | $1,197 | $1,735 | $2,593 |
Source: Ownwell